JLL’s Hotels & Hospitality group arranged the sale of the 154-room Hampton Inn & Suites National Harbor/Alexandria Area in Maryland. JLL worked on behalf of the seller and procured the buyer. Terms were not disclosed.
The select-service hotel is located at 250 Waterfront St., Oxon Hill. It occupies a location immediately across the street from the submarket's primary demand generator, The Gaylord National Resort and Convention Center, which contains nearly 550,000 square feet of premier conference and event space. The 11-story hotel has all of Hilton’s amenity brand standards including digital key access, a business center, fitness center, complimentary breakfast, free Wi-Fi as well as an indoor pool and meeting space.
National Harbor, situated just a short 15-minute drive from downtown D.C., has rapidly established itself as a popular tourist spot. The sight of the Capital Wheel has become an unmistakable symbol for D.C. residents, easily recognizable from the banks of the Potomac River. Businesses situated within National Harbor enjoy exposure to a significant influx of visitors, with 15.2 million annual visitors in 2022 and a growing trend towards its usual average of nearly 20 million visitors. The business-friendly environment of National Harbor fosters thriving hospitality, entertainment and retail sectors. These local attractions have not only attracted more annual visitors but also played a crucial role in stimulating the local economy and driving economic growth. The presence of other attractions in close proximity, such as the MGM National Harbor Casino, TopGolf, Tanger Outlets, Rosecroft Raceway and Old Town Alexandria, contribute to the enduring and robust demand for the submarket.
The JLL Capital Markets Investment sales and advisory team was led by Managing Director Ketan Patel and Directors Phil White and Vasilis Halakos.